India, ninth in global m-cap rankings, is closing gap with Canada and Germany.Germany ranked seventh, while Canada came eighth. At $2.02 trillion, India’s m-cap is just 4.2% less than Canada’s ($2.11 trillion) and 7.5% less than Germany ($2.19 trillion). According to analysts, factors such as new listings, a 5% appreciation in the rupee against the dollar and a broad-based rally, with even small- and mid-cap indices scaling record highs, have led to a rise in India’s market value.